The administration has given several Income tax benefits to the assessee on accommodation loans. Income Tax Act offers tax advantages on refunding a principal constituent of loan and refunding interest constituent of loan. In this article, we will discuss on Income Tax Benefits Available On Housing loans. Income Tax Benefits Available On Housing Loan Deduction … Read more
Most of us might have used an iPad as a replacement for office computers while working from home. From writing emails to attending video calls for work, people used the iPad for several computing purposes. As a result, there was a lot of confusion about whether someone can claim tax depreciation on the iPad at … Read more
The Finance Minister extended the time limits for the electronic submission of different forms covered in the 1961 Income Tax Act. The reason for extending the Deadline for filing various forms under the Income Tax Act is that several taxpayers reported issues in the New Income Tax Portal. In this article, you will learn about … Read more
As per the latest news, Finance Minister Sitharaman gives an ultimatum to Infosys. As we all know, the Ministry of Finance launched a new income tax portal on June 7, 2021, collaborating with Infosys. However, ever since it was launched, several taxpayers and professionals reported many issues in the portal. It’s almost the end of … Read more
A piece of good news for insolvency professionals as the central government has increased its powers. Professionals can now verify the income tax returns of bankrupt companies. Furthermore, It is also the duty of professionals to comply with the regulations set forth for certain company tax returns that are governed by income tax (24th Amendment) … Read more
After conducting investigations at sites connected to an organization involved in the sale of telecom equipment, the Income Tax Department uncovered massive illicit exports of pharmaceuticals from India to China, officials said. In this article, we will discuss this latest news of Income Tax dept detects illegal export of medicines in detail. Illegal export of … Read more
As we all know, the income tax department issues I-T refund to taxpayers in India. These refunds are released after taxpayers do ITR Filing. This year too, the Income-tax department issues refunds. These refunds are worth thousands of crores. Let us discuss this latest update in detail. Income tax department issues I-T refund The I-T department … Read more
Who should file ITR for FY 2020-21 and How to file ITR is are the two most popular questions among taxpayers. Furthermore, many citizens aren’t aware of the benefits of ITR Filing. Thus, In this article, we will discuss important things about ITR Filing that we all must know. What is ITR Filing? The Income … Read more
Good news for taxpayers, as the Income-tax department has launched three new official email addresses. The Income Tax Department launches dedicated emails for taxpayers’ grievances. The government said the decision is intended to further improve services in accordance with the taxpayers’ charter. In this article, we will read about this latest update of new emails … Read more
For NPS Account Holders: Income tax payment is vital; following the norms and provisions of the 1961 Income Tax Act for every Indian person who has the liability for ITR Filing. The NPS (National Pension System) is one of the most common means of making retirement corporations and regular monthly incomes available to individuals. In … Read more